India : International Organization of Securities Commission Objectives and Principles of Securities Regulation

An assessment of the level of implementation of the IOSCO principles in the Indian securities market was conducted from June 15 to July 1, 2011 as part of the Financial Sector Assessment Program (FSAP) by Ana Carvajal, Monetary and capital markets department. An initial IOSCO assessment was conducted in 2000. Since then significant changes have taken place in the Indian market, in terms of market development, upgrading of market infrastructure and of the regulatory framework. The IOSCO methodology requires that assessors not only look at the legal and regulatory framework in place, but at how it has been implemented in practice. The assessor relied on: (i) a self-assessment developed by Securities Board Exchange of India (SEBI); (ii) the review of relevant laws, and other relevant documents provided by the authorities including annual reports; (iii) meetings with the Chairman of SEBI and other members of the Board, staff of SEBI as well as the RBI, and other public authorities, in particular representatives of the Ministry of Finance (MoF) and the Ministry of Corporate Affairs (MCA); as well as (iv) meetings with market participants, including issuers, brokers, merchant bankers, fund managers, stock exchanges, external auditors, credit rating agencies and law firms.

Bibliographic Details

Main Authors:	International Monetary Fund, World Bank
Format:	Financial Sector Assessment Program (FSAP) biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2013-08
Subjects:	ACCOUNTING, ACCOUNTING STANDARDS, ASSET BACKED SECURITIES, ASSET CLASSES, ASSET MANAGEMENT, ASSETS UNDER MANAGEMENT, AUDIT COMMITTEE, AUDITORS, AUDITS, BANKING REGULATION, BARRIERS TO ENTRY, BOND, BOND MARKETS, BROKER, BROKER DEALERS, BROKER-DEALERS, BROKERS, CAPITAL MARKETS, CAPITAL REQUIREMENTS, CASH MARKET, CENTRAL SECURITIES DEPOSITORIES, CERTIFICATION PROCESS, CLEARING CORPORATION, CLIENT ASSETS, CODE OF CONDUCT, COLLATERAL, COLLECTIVE INVESTMENT, COLLECTIVE INVESTMENT SCHEMES, CONFIDENTIALITY, CONFLICT OF INTEREST, CONFLICTS OF INTEREST, CORPORATE BOND, CORPORATE BOND MARKETS, CORPORATE BONDS, CORPORATE GOVERNANCE, CREDIT RATING, CREDIT RATING AGENCIES, CURRENCY, CUSTODY, DEBENTURE, DEBENTURES, DEBT, DEBT ISSUERS, DEBT OFFERINGS, DEBT SECURITIES, DEFAULT RISK, DEPOSIT, DEPOSITORY, DERIVATIVES, DERIVATIVES MARKET, DERIVATIVES MARKETS, DISCLOSURE, DISCLOSURE REQUIREMENTS, DIVIDEND, ENFORCEMENT ACTIONS, ENFORCEMENT POWERS, EQUITY DERIVATIVES, EQUITY FUNDS, EQUITY MARKET, EQUITY MARKETS, EXCHANGE BOARD, EXPOSURE, EXPOSURES, FINANCIAL COMPANIES, FINANCIAL CONGLOMERATES, FINANCIAL CRISIS, FINANCIAL MANAGEMENT, FINANCIAL MARKETS, FINANCIAL SECTOR, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL SERVICES, FINANCIAL STABILITY, FINANCIAL STATEMENTS, FOREIGN EXCHANGE, FOREIGN INSTITUTIONAL INVESTORS, FOREIGN INVESTORS, FOREIGN OWNERSHIP, FORWARD CONTRACTS, FUND MANAGERS, FUTURES, GOVERNMENT SECURITIES, GUARANTEE FUND, HEDGE FUND, HEDGE FUND MANAGERS, HEDGE FUNDS, HOLDING, HOLDINGS, HUMAN RESOURCES, ILLIQUID ASSETS, ILLIQUID SECURITIES, INFORMATION SHARING, INSIDER, INSIDER TRADING, INSOLVENCY PROCEEDINGS, INSOLVENCY REGIME, INSTITUTIONAL INVESTORS, INSTRUMENT, INSURANCE, INSURANCE COMPANIES, INSURANCE POLICIES, INTEREST RATES, INTERNAL AUDIT, INTERNAL CONTROL, INTERNAL CONTROLS, INTERNATIONAL ACCOUNTING STANDARDS, INTERNATIONAL BANK, INTERNATIONAL STANDARDS, INVESTMENT RESTRICTIONS, IPOS, ISSUANCE, ISSUANCES, JOINT VENTURE, JURISDICTION, JURISDICTIONS, JUSTICE SYSTEM, LEGAL AUTHORITY, LEGAL FRAMEWORK, LEGAL PROTECTION, LEGAL PROVISION, LEGAL PROVISIONS, LEGAL SYSTEM, LEVIES, LEVY, LIQUID ASSETS, LIQUIDITY, MANAGEMENT COMPANY, MARKET CAPITALIZATION, MARKET DEVELOPMENT, MARKET DEVELOPMENTS, MARKET INFRASTRUCTURE, MARKET INTERMEDIARIES, MARKET INTERMEDIARY, MARKET MANIPULATION, MARKET PARTICIPANTS, MARKET SECURITIES, MARKET STRUCTURE, MARKET SURVEILLANCE, MARKET SURVEILLANCE SYSTEM, MARKET SURVEILLANCE SYSTEMS, MARKET TURNOVER, MINIMUM CAPITAL REQUIREMENTS, MONETARY FUND, MONEY MARKET, MONEY MARKET SECURITIES, MUTUAL FUND, MUTUAL FUNDS, NATIONAL SECURITIES, NATIONAL STOCK EXCHANGE, NONPAYMENT, PAYMENT OF DIVIDENDS, PORTFOLIO, PORTFOLIO MANAGER, PORTFOLIO MANAGERS, PORTFOLIOS, PRICE BANDS, PRIVATE PLACEMENTS, PRIVATE SECTOR DEVELOPMENT, PROFIT EXCHANGES, PROSPECTUS, PUBLIC COMPANIES, PUBLIC OFFERING, REGISTRATION PROCESS, REGISTRATION REQUIREMENTS, REGULATORS, REGULATORY AGENCIES, REGULATORY AGENCY, REGULATORY AUTHORITIES, REGULATORY FRAMEWORK, REGULATORY OVERSIGHT, REGULATORY PRACTICE, REGULATORY REGIME, REGULATORY SYSTEM, REGULATORY TREATMENT, REPO, REPUTATION, RESERVE, RESERVE BANK, RETAIL INVESTORS, RISK MANAGEMENT, RISK MANAGEMENT SYSTEM, RISK MANAGEMENT SYSTEMS, SECONDARY MARKET, SECONDARY MARKET TRADING, SECONDARY MARKETS, SECURITIES, SECURITIES COMMISSION, SECURITIES COMMISSIONS, SECURITIES EXCHANGES, SECURITIES MARKET, SECURITIES MARKETS, SECURITIES REGULATION, SECURITIES REGULATOR, SECURITIES TRANSACTION, SECURITIES TRANSACTIONS, SELF-REGULATION, SETTLEMENT, SETTLEMENT SYSTEMS, SHAREHOLDERS, STOCK EXCHANGE, STOCK EXCHANGES, SYSTEMIC RISK, TAX, TRADING, TRADING ACTIVITIES, TRADING PLATFORMS, TRADING SYSTEMS, TRADING VOLUME, TRANSFER OF SECURITIES, TRANSPARENCY, TRUSTEES, UNDERWRITERS, UNFAIR PRACTICES, VALUATION, VOLATILITY,
Online Access:	http://documents.worldbank.org/curated/en/2013/08/18181397/india-international-organization-securities-commission-objectives-iosco-principles-securities-regulation-detailed-assessmenr-india-international-organization-securities-commission-objectives-iosco-principles-securities-regulation-detailed-assessmenr http://hdl.handle.net/10986/15960
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